Business
Final Results and Publication of Annual Report
Final Results and Publication of Annual Report.
About this update from Beacon Energy Plc
[{"type":"text","content":"\n\n27 June 2025\nBeacon Energy plc\n(\"Beacon Energy\" or the \"Company\")\nFinal Results and Publication of Annual Report \nBeacon Energy (AIM:BCE), announces its Final Results for the period ended 31 December 2024.\nCopies of the Annual Report and Accounts have today been posted to shareholders and made available on the Company's website at: https://beaconenergyplc.com/\nMark Rollins, Non-Executive Chairman of Beacon Energy, commented:\n\"It has been an extremely challenging year for your Company. During the year and subsequent period, the Board has worked tirelessly to stabilise the Company's financial position and deliver on its strategy which is to pursue the acquisition of value enhancing opportunities to develop and grow a self-funding upstream oil & gas company.\nThe Board is presently in discussions on a range of opportunities that will enable realisation of this strategy. Of these, the Company has signed a non-binding Heads of Terms and has entered into a period of exclusivity with a third party in relation to the potential acquisition of an interest in an onshore gas development asset located in Europe (the \"Transaction\"). It is anticipated that binding documentation related to the Transaction will be agreed and an Admission Document published by the end September 2025. While there can be no guarantee that agreement on such a Transaction will be reached, we believe that we have identified a compelling, value accretive opportunity and will continue our efforts to deliver on behalf of our shareholders.\nWe thank shareholders for their continuing support and patience and look forward to providing updates on our progress as we move through the rest of the year.\"\n \nAs the Transaction would be considered a reverse transaction under Rule 14 of the AIM Rules for Companies (\"Aim Rules\"), the Company has requested and been granted the immediate suspension of trading of its shares pending publication of an Admission Document. Shareholders should note that if the transaction was not to proceed after 6 July 2025 then trading in the shares would remain suspended as the shares were due to be suspended on 7 July 2025 in accordance with Rule 15 of the AIM Rules, as previously announced.\nThe Company is required to make an acquisition, or acquisitions, which constitutes a reverse takeover under AIM Rule 14 (...